Private equity firm Cresta Fund Management has agreed to buy a controlling stake in idled Canadian 135,000-barrel-per-day (bpd) Come-by-Chance refinery, a fund representative said on Monday, with the aim of converting it to renewable fuels production. The refinery, owned by North Atlantic Refining Ltd (NARL), has been idled for more than a year. Several refiners […]
Calgary-based Pieridae Energy, which has been the driving force behind a challenging liquefied natural gas project in eastern Canada for the past decade, could be sold or merged. The company’s stock, listed in Toronto, was trading at C$0.34 (US$0.27) at close of play on Friday, close to its all-time low and a world away from […]
The Canadian province of Newfoundland & Labrador (NL) has the potential by 2050 to develop a hydrogen industry worth C$11 billion (US$8.7 billion) annually that would support 140,000 jobs, based on abundant hydropower, wind and hydrocarbon resources. The province could emerge as a major regional supplier and exporter of green hydrogen once its huge Muskrat […]
The companies that were successful in the recently concluded Suriname bid round are now to submit their exploration work programme the head of state oil company, Staatsolie Maatschappij Suriname N.V. told OilNOW. Chevron Exploration Suriname Limited and a consortium consisting of TotalEnergies and Qatar Petroleum had submitted the most favourable bids for shallow offshore blocks. Chevron [&he
OSLO – The activity level on the Norwegian continental shelf (NCS) has been high in the first six months of the year – despite the Covid situation. Eight discoveries have been made, production remains high, and many new development projects are on the drawing board. During the first six months (as of 30 June), a […]
Oil and gas company Aker BP has made a minor gas discovery south of the Korpfjell gas discovery in the Barents Sea, the Norwegian Petroleum Directorate (NPD) said. NPD said on Tuesday the Aker BP concluded the drilling of wildcat well 7234/6-1 in production license 858, where the company is the operator with a 40 […]
The agreement which OPEC+ reached on Sunday is modestly bullish for Goldman Sachs’s forecast that Brent will hit $80 per barrel this summer, the investment bank said in a note after the group agreed to start adding 400,000 bpd production each month from August. For months, Goldman Sachs has been calling for $80 a barrel […]
OPEC forecast on Thursday that world oil demand would rise in 2022 to reach a level similar to before the pandemic, led by growth in the United States, China, and India. The Organization of the Petroleum Exporting Countries said in its monthly report that demand next year would rise by 3.4% to 99.86 million barrels […]
Kraken Robotics has signed a contract with an undisclosed international energy company to provide underwater inspection of the subsea assets in West Africa. Under the contract, Kraken will deploy its SeaVision laser scanner to conduct an underwater inspection of an umbilical termination assembly to acquire metrology data on tubing within the internal structure. The company […]
CALGARY, AB – Three in four Canadians polled agree Canada should be a preferred global supplier of energy because of its climate and environmental record, according to a July 2021 public opinion survey conducted by Research Co. And almost seven in ten (69 percent) say they have personally benefited from the oil and gas sector, the […]
